Homework: 7-1 MyFinanceLab Assignment Save Score: 0 of 4 pts 1 of 1242 complete) HW Score: 0%, 0 of 50 pts P9-1 (similar to) Question Help 0 (Related to Checkpoint 9.1) (Floating-rate loans) The Bensington Glass Company entered into a loan agreement with the firm's bank to finance the firm's working capital. The loan called for a floating rate that was 27 basis points (0.27 percent) over an index based on LIBOR. In addition, the loan adjusted weekly based on the closing value of the index for the previous week and had a maximum annual rate of 2.22 percent and a minimum of 1.74 percent. Calculate the rate of interest for weeks 2 through 10. Date LIBOR Week 1 1.94% Week 2 1.64% Week 3 1.53% Week 4 1.35% Week 5 1.63% Week 6 1.68% Week 7 1.73% The rate of interest for week 2 is %. {Round to two decimal places. Enter your answer in the answer box and then click Check Answer 8 parts remaining Clear All Check Answ Homework: 7-1 MyFinanceLab Assignment Save Score: 0 of 4 pts 1 of 1242 complete) HW Score: 0%, 0 of 50 pts P9-1 (similar to) Question Help 0 (Related to Checkpoint 9.1) (Floating-rate loans) The Bensington Glass Company entered into a loan agreement with the firm's bank to finance the firm's working capital. The loan called for a floating rate that was 27 basis points (0.27 percent) over an index based on LIBOR. In addition, the loan adjusted weekly based on the closing value of the index for the previous week and had a maximum annual rate of 2.22 percent and a minimum of 1.74 percent. Calculate the rate of interest for weeks 2 through 10. Date LIBOR Week 1 1.94% Week 2 1.64% Week 3 1.53% Week 4 1.35% Week 5 1.63% Week 6 1.68% Week 7 1.73% The rate of interest for week 2 is %. {Round to two decimal places. Enter your answer in the answer box and then click Check Answer 8 parts remaining Clear All Check Answ